Check forgeries and alterations;

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Bulletin HASKINS & SELLS 11
Check Forgeries
LOSSES from forgeries and alterations
it has been estimated occur in the
following proportions:
1. Forgery of signature, 45 per cent.
2. Forgery of endorsement, 50 per cent.
3. Alteration of instrument, 5 per cent.
There often is some question in cases of
this kind as to who shall bear the loss, the
and Alterations
bank or the depositor. The legal respon­sibility
is covered by the Negotiable In­struments
Law, which has been adopted in
substantially the same form by all our
states.
The general rule in the case of a forged
signature of the maker of a check is that
the bank is liable. A bank must know the